Claim Data and Trends - EPIC Insurance Brokers & Consultants Plea Petition and Plea Agreement signed and accepted by the Court. Until now, Rice and MacRitchie have faced minimal legal expenses. This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. Please sign in or register to comment. As part of his plea agreement, Gillis has also agreed to pay restitution as determined by the government and ordered by the court. As part of the plea agreement, Oliver has agreed to pay restitution in full to each of victims as determined and ordered by the court. Five of the six senior Aequitas executives have been charged with federal crimes or have pleaded guility. There was the motorcycle leasing company. Theyve got a team that really loves entrepreneurship and is equipped with different skill sets.
District of Oregon | Former Aequitas Owner and Chief Financial Officer PORTLAND, Ore.A former senior executive and chief financial officer of Aequitas Management, LLC, and several other entities formerly owned by Aequitas, pleaded guilty today to submitting a false statement to an Aequitas creditor to obtain a $4.2 million loan for the now-defunct company. Oliver faces a maximum sentence of 30 years in prison, a $250,000 fine or twice the gross . Aequitas Management LLC and four affiliates allegedly defrauded more than 1,500 investors nationwide into believing they were making health care, education, and transportation-related investments when their money was really being used in a last-ditch effort to save the firm. Probation. SEC charges advisor over Aequitas conflicts of interest. ORDER Defendant released on previous conditions.
SEC bars Aequitas execs after $540m judgement against Oregon firm Luminaries from the downtown business establishment wanted to join the team. It is believed that since he was ousted from Aequitas, Jesenik has been working for a company founded by his son: KCR Advisors LLC, based in Viero Beach, Fla. An earlier indictment against Gillis will be dismissed. Lock
Sentencing for No. 2 Aequitas executive Brian Oliver moved to February A .gov website belongs to an official government organization in the United States. He declined to comment. In anticipation of the institution of these proceedings, Respondent has submitted an Offer . ) or https:// means youve safely connected to the .gov website. They both opted not to talk.
Prosecutors' wide net: Prominent Portland executives sucked into Cookie Settings/Do Not Sell My Personal Information. The firm sold more than $300 million worth of private investment notes, mostly through financial advisers. 2020 update: Aequitas investors recoup some money. District of Oregon
Former Aequitas executives and co-conspirators Brian A. Oliver and Olaf Janke previously pleaded guilty to conspiring to commit mail and wire fraud and money laundering on April 19, 2019, and June 10, 2019, respectively. More Local News to Love Start today for 50% off Expires 3/6/23. As such, he was responsible for the development and implementation of risk management and compliance processes and procedures. Gillis was charged alongside former Aequitas CEO Robert J. Jesenik, 62, of West Linn, Oregon, and former Aequitas executives Brian K. Rice, 55, of Portland, and Andrew N. MacRitchie, 56, formerly of Palm Harbor, Florida. A locked padlock
Bob Jesenik, three other former Aequitas executives - Oregonlive An official website of the United States government. Sentencing materials are due no later than 7/31/2019. It is being prosecuted by Scott E. Bradford and Ryan W. Bounds, Assistant U.S. He was even on the board of the Arlington Club. If you need help with finances, they've got that covered. Please read our Terms and Conditions, Modern Slavery Act Transparency Statement, and Privacy Policy before using the site. Mitsubishi Signs $1.9b Commuter Rail Deal With Manila: Nikkei, AllianceBernstein Wins China Approval to Set Up Mutual Fund Unit, Sorry, Fed, Most US Mortgage Rates Were Locked in During Pandemic Lows, Fed Says MoreRate Hikes Are Needed to Curb Inflation, US Service Sector Expands More Than Forecast Suggesting Hiring Success, VW Will Build a $2 Billion Electric Truck and SUV Plant in South Carolina, Saudi Wealth Fund in Talks to Buy Rocco Forte Hotels Stake, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, SoftBanks Son to Join Modi at Oyo Founders Wedding Gala, US-Sanctioned Huawei Makes a Show of Force at Mobile Conference, Hong Kong Court Convicts Activists Behind Tiananmen Vigil, Bidens About-Face on DC Crime Bill Shows Democrats on Defensive, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, NYC TikTok Dating Diary Chronicles Love in the Time of Inflation, Tom Sizemore, 'Saving Private Ryan' actor, dies at 61, AP Says, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece, Video Roundup: Opinions Must-See Footage of the Week, How Democrats Got Away From Third Way Politics, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Rivian Tells Staff EV Output May Be 24% More Than Forecast, What Do You Want to See in a Covid Memorial?
District of Oregon | Former Aequitas Owner and Executive Vice President Oliver was the primary fundraiser for ACF and the Aequitas Funds and a member of the management committees responsible for selecting or approving the investments made with investor . Attorney Billy J. Williams announced today that Robert J. Jesenik, 61, a former chief executive officer of Aequitas Management, LLC and several other Aequitas-owned entities, has been indicted along with three other former company executives for their roles in a fraud and money laundering conspiracy. (kms) (Entered: 04/19/2019), Home Share sensitive information only on official, secure websites. From June 2014 through February 2016, Oliver and others solicited investors by misrepresenting the companys use of investor money, the financial health and strength of Aequitas and its related companies, and the risks associated with its investments and investment strategies. Some money from new investors was allegedly used to pay earlier investors Ledger was the co-founder of Aequitas, which was then a small New York based company that dealt primarily in commercial paper. The Aequitas entities, which are in receivership, will have to pay $540 million in disgorgement and interest as part of the final judgment. 04/19/2019 11 Waiver of Indictment by Brian A. Oliver (schm) (Entered: 04/19/2019) President, Cathedral Finance|Senior Advisor. Official websites use .gov Oliver also was charged criminally for his conduct and has pled guilty, but has not yet been sentenced. The company's general counsel just quit. An official website of the United States government. According to a Complaint filed on March 10, 2016 in Oregon federal district court, the SEC has brought claims against Aequitas Management, LLC (CRD# 143780/SEC# 801-68039) and three Aequitas executives, Robert J. Jesenik, Brian A. Oliver, and N. Scott Gillis for defrauding investors and for a breach of fiduciary duties. Brian Oliver, Aequitas Capital's longtime No. He argues he needs the money to help defray losses suffered by Aequitas investors. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Advance Local. MacRitchie oversaw all Aequitas accounting, legal, and audit functions, and participated in fundraising.
Bob Jesenik, the co-founder and face of the defunct Lake Oswego investment firm Aequitas Management, was indicted Tuesday on charges he defrauded hundreds of its former clients. All three are permanently barred from the securities industry.
Oliver, former second-in-command at Aequitas, pleads guilty to fraud Court finds defendant capable and competent to enter plea. Brian Oliver, Aequitas Capital's longtime No. Brian Oliver President, Cathedral Finance | Senior Advisor Brian has over 30 years experience in providing corporate finance and consulting solutions to small and medium sized businesses. A locked padlock There was no more hiding the fact that Aequitas was broke. But prosecutors allege the Aequitas executives lied about the firms financial performance. But now it has a bigger problem: farmers are revolting against restrictions on how they repair complex equipment. Brian A. Oliver, a former owner and executive vice president of Aequitas Management, LLC and several other Aequitas-related companies pleaded guilty to conspiring to commit mail and wire fraud and money laundering. II. Brian has been a Senior Advisor with Cathedral Consulting since 2017. (Court Reporter Ryan White) (kms) (Entered: 04/19/2019) The firm purchased or invested in other financial firms, many of them glorified debt collectors. Brian Rice and Scott Gillis, two of the company's six senior partners, resigned in recent weeks. Irvine, California-based Eric Gallinger is affiliating with LPL through Stratos Wealth Partners. In January 2014, shortly before joining Aequitas, he was named to the Portland board of directors of the Federal Reserve Bank of San Francisco. Brian Oliver and Olaf Janke, former senior Aequitas executives, have in recent months cut plea deals with federal prosecutors. By early January 2016, Aequitass general counsel advised Gillis and other executives that the company would soon default on payments due to Private Note investors, causing an event of default on Aequitass loan agreement with Wells Fargo. Sam Kauffman is MacRitchies attorney. Community Rules apply to all content you upload or otherwise submit to this site. The third policy is now being consumed even though the criminal case is just getting underway and the pool of potential defendants is expanding. Other funds went to pay their salaries. This case is being investigated by the FBI, IRS-Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration.
Defunct Aequitas misled investors, cooked books, ran Ponzi - oregonlive Have a question about Government Services? The SECs complaint, filed on March 10, 2016, alleged that Aequitas Management and four affiliates defrauded more than 1,500 investors nationwide when that money was being used primarily to cover operating losses and to pay earlier investors in a Ponzi-like fashion, according to an April 24 SEC press release on the final judgment. Nelson Scott Gillis, 69, of Lake Oswego, Oregon, pleaded guilty to one count of making a false statement to a bank. Brian A Oliver is Exec VP & Pres:Financial Svcs at Aequitas Capital Mgmt Inc. See Brian A Oliver's compensation, career history, education, & memberships. They agreed to plead guilty and cooperate with the government.. Oliver was a partial owner and Executive Vice President of Aequitas Management, LLC ("Aequitas Management . Oliver and his co-conspirators also failed to disclose other critical facts about the company, including its near-constant liquidity and cash-flow crises, the use investor money to repay other investors and to defray operating expenses, and the lack of collateral to secure funds. 1000 SW Third Ave Suite 600
Brian's experience encompasses a variety of positions across commercial banking, investment banking, alternative asset management, and business advisory services. Neither were charged when the U.S. Securities and Exchange Commission shut Aequitas down and filed a civil lawsuit in March 2016. Government summarized charges and terms of plea agreement. Aequitas investors lost about $600 million after the collapse. It is believed that since he was ousted from Aequitas, Jesenik has been.
Defendant waived reading of the Information.
PDF Former Aequitas Owner and Executive Vice President Pleads Guilty - DOL Previously, Brian was an Executive VP, Business Development at Alternative Asset Management. A federal court in Oregon entered final judgments against Aequitas Management requiring the firms receiver to pay $453 million in disgorgement.
ORDER granting the Government's oral motion to unseal the case. It was the beginning of the end for the high-flying company. | Recent Lawyer Listings No criminal charges have been filed against Bob Jesenik, Aequitas co-founder and CEO. They agreed to plead guilty and cooperate with the government. Email USAO-OR. Get started today before this once in a lifetime opportunity expires. (Entered: 04/19/2019) Thom Maher is launching a firm, Maher Wealth Management, in Phoenix.
In what could be the largest settlement of a securities lawsuit in Oregon history, settlements of at least $234.6 million have been secured for some 1,600 investors in a class action against third.
Aequitas Management, LLC, et al. (Release No. LR-23485; March 11, 2016) This case is being investigated by the FBI, IRS Criminal Investigation, and the U.S. Department of Labor Employee Benefits Security Administration. brian oliver, aequitas brian oliver, aequitas Home Realizacje i porady Bez kategorii brian oliver, aequitas The SECs complaint alleged that Jesenik and Oliver were aware of Aequitass calamitous financial condition yet continued to solicit millions of dollars from investors to pay the firms ever-increasing expenses and attempt to stave off the impending collapse of the business. It added that Gillis allegedly concealed the firms insolvency from investors and was aware that Jesenik and Oliver continued soliciting investors so that Aequitas could pay operating expenses and repay earlier investors with money from new investors.. The high-interest loans were terrible for students. | Privacy Statement. Aequitas finances were already spiraling down, and the worse they got, the more student debt the firm bought from Corinthian.
Lock Ledger left the company in 2005 in a highly controversial and public way. Nevertheless, Papak ruled in favor of Jeseniks request for access to additional insurance funds to cover his defense.
Jesenik also must pay a civil penalty of $625,000. This story was revised on Aug. 21, 2020 to correct some details about Brian Rices professional background. As part of the final consent judgment, the defendants are prohibited from soliciting anyone to purchase or sell a security and prohibiting them from participating in the issuance, offer, or sale of any security of an entity they control, the SECs release stated. 04/19/2019 10 Minutes of Proceedings: First Appearance on Information and Arraignment held before Magistrate Judge Stacie F. Beckerman as to Defendant Brian A. Oliver on 4/19/2019. Use of editorial content without permission is strictly prohibited|All rights reserved, Securities and Exchange Commission complaint filed in 2016, Aequitas meltdown underscores the importance of due diligence, caution, Fintech Bytes: RBC selects Vestwell, Riskalyze partners with Opto, Morgan Stanley ESG ETFs get the cold shoulder, HSA participants fail to take full advantage of tax trifecta, Investors keep dumping Blackstone REIT shares, Striving to win at compassion? Greenspan uncovered a remarkable email exchange between Aequitas co-founder Brian Oliver and Andrew MacRitchie, the firm's one-time chief compliance officer, which seems to indicate they were. By the time he left, he was also in charge of Key Banks operations in Washington and Alaska. CEO Robert Jesenik will have to pay $1.57 million to settle fraud charges, while executive vice president Brian A. Oliver and former CFO N. Scott Gillis will each have to pay hundreds of thousands of dollars as part of a consent decree finalized in Oregon federal court on April 13.
Brian Oliver - Senior Advisor & President, Cathedral Finance But I think my clients will be thrilled. Brian Oliver and Olaf Janke, Aequitas chief financial officer before Gillis, pleaded guilty to similar charges.
Re: United States of America v. Brian A. Oliver - MoreLaw Oliver is the 25% owner of Aequitas Management and an Executive Vice President of the Entity Defendants. Arraignment held for Defendant Brian A. Oliver on Counts 1 and 2 of the Information. Defendant advised of rights. But they made good money for Aequitas and its investors. 2023 InvestmentNews LLC. Longtime Aequitas No. Worse, regulators from the U.S. Consumer Financial Protection Bureau and the state Department of Justice began taking a hard look at the colleges agreement with Aequitas. 18:1957 CONSPIRACY TO COMMIT MONEY LAUNDERING One of Aequitas biggest moneymakers disappeared almost overnight. Email USAO-OR. The final judgments prohibit Jesenik, Oliver, and Gillis from serving as officers or directors of any public company. In a separate administrative proceeding, Jesenik, Oliver, and Gillis were barred from association with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical ratings organization, the SEC said.
District of Oregon | Former Aequitas Senior Executive and Chief They are Brian Rice, who formerly headed Key Banks operations in much of Oregon, Andrew MacRitchie, The Scotland native who came to Portland when when Scottish Power purchased PacifiCorp, and N. Scott Gillis, the former chief financial officer. Bob Jesenik and Brian Oliver, the long-time chief executive and second-in-command at the Lake Oswego financial firm, said any misstatements they may have made to investors were simply. Among his responsibilities, Rice oversaw the solicitation of investments through registered investment advisors (RIA) and managed Aequitass affiliated RIAs. Accounting giant Deloitte, stock trader T.D.